Africa-Press – Mozambique. Mozambique’s oil and gas sector generated US$88.13 million for the Mozambican state in 2025, bringing the total to US$252.82 million since 2022, according to official data.
According to budget execution information from January to December 2025, total revenue over the 12-month period reached US$31.67 million from Mining Production Tax and US$56.46 million from the ‘Profit Oil’ component allocated to the state.
The document adds that between 2022 and 2025 the data “reveal the structural predominance of ‘profit oil’ as the main source of value generation for the state” — the share of oil allocated to the state after companies recover their costs. Production bonuses, by contrast, remain a “residual and occasional component”, amounting to US$7 million in the first year.
Under the legislation establishing the Mozambique Sovereign Fund (FSM), which will be financed with 40% of natural gas revenues, the document further states that between 2022 and 2025 transfers made by the Tax Authority directly to the Single Treasury Account (CUT) of the State Budget totalled US$33.65 million. After deducting this amount from the total collected, US$219.17 million remained as total revenues deposited in the Transitional Account, before the FSM became operational.
The information highlights that the “distribution of the amounts deposited” in the transitional account and the allocations to the State Budget “reveal an upward and consistent trajectory”, totalling US$103.03 million from 2022 to 2025, including US$47.10 million in the last year alone.
As for allocations from the transitional account to the FSM, whose operationalisation and management by the Bank of Mozambique began last November, the document points to “an equally robust trajectory”, with cumulative transfers of US$116.14 million.
“It shows the overall trend of strengthening the sovereign savings component, reflecting the gradual implementation of the FSM regulatory framework and the internalisation of fiscal rules aimed at balancing current public financing needs with the accumulation of long-term assets,” the document reads.
From the “structure of revenue distribution”, it is observed that the largest share is allocated to the FSM, justified by the fact that the amount earmarked for the budget quota (60%) “is calculated based on projected revenues”.
This is because the legislation establishing the sovereign fund provides that “if revenues received during a fiscal year exceed the projected amounts to be allocated to the State Budget” for that year, the surplus is transferred to the FSM.
The Mozambican Parliament approved the creation of the FSM on 15 December 2023, funded by revenues from natural gas production, which in the 2040s are expected to reach US$6 billion annually. The fund was formally established in April the following year, and since then, amendments to the legal framework have provided for the allocation of 40% of revenues from taxes and capital gains from gas and oil production to the fund, with the remaining 60% directed to financing the State Budget.
Mozambique has three approved megaprojects for the development of gas reserves in the Rovuma Basin, classified among the largest in the world, off the coast of Cabo Delgado. These include a 13 million tonnes per annum (mtpa) project by TotalEnergies, currently in the resumption phase following suspension due to terrorist attacks in the region, and another by ExxonMobil (18 mtpa), which is awaiting a final investment decision, both located on the Afungi peninsula.
In addition, in ultra-deep waters of the same basin, Area 4 — the consortium led by Italy’s Eni — has been operating since 2022 at the Coral Sul floating unit and is advancing with the second unit, Coral Norte, which is scheduled to start production in 2028.
Source: Lusa
